Dragni Dragnev

Medical Cannabis Payment Solutions (OTCMKTS:REFG)'s Pump Turns Uglier

by Dragni Dragnev January 29, 2015

Yesterday took Medical Cannabis Payment Solutions (OTCMKTS:REFG, REFG message board) another 6.4% down on a record $551 thousand volume, as investors recoiled from the pumped up stock - and by the look of today's red start, things aren't going to get better for some time yet.

Truth be told, this turn of events is not really unexpected. REFG was showing quite a few red flags even before Damn Good Penny Picks and Best Damn Penny Stocks started pumping it senseless.

For instance, its latest financials looked like this:

  • Cash & current assets - $437 thousand
  • Current liabilities - $146 thousand
  • Sales Jan. to Sept. 2014 - $5000 (NUMBER NOT IN THOUSANDS!)
  • Net loss Jan. to Sept. 2014 - $116 thousand

And even if the pumps, the six digit net loss and the four digit sales aren't indicative enough for you, consider the following facts. During the third quarter of 2014, when REFG stock was traded at $0.2 a share, the company sold 20 million shares at $0.025 a piece to acquire... you guessed it - $500 thousand. Most of that money was still available as of Sept. 30, but who knows what has happened to it by now?

Judging by both the charts and the obvious red flags in its fundamentals, investors may want to be extra careful when dealing with REFG, if they go anywhere near the stock at all – especially seeing as how the ticker is already 10% down in early trading today.

 

Comments 1

1. Guest
January 29, 2015, 12:07PM

Quotes GRCV is in the FINAL STAGES of negotiations with a MARIJUANA FARM located in Bend, Oregon.
(Source: otcmarkets.com, type in GRCV, click on "NEWS", Read the 1/8/15 news).
GRCV=0.0002 and will go up higher.GRCV is a strong buy.

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